The president is closer to the truth when he says there's more oil drilling on public lands during his administration. Oil production on those lands is up 13 percent since he took office and is now climbing back to pre-spill levels.
Romney is also correct on the decline in natural gas production and wrong on the context. Gas production has been falling for years because new technology has made it cheaper to drill on private land in Pennsylvania, North Dakota, and elsewhere.
The candidates also argued about gasoline prices.
Romney: "The proof of whether a strategy is working or not is what the price is that you're paying at the pump. If you're paying less than you paid a year or two ago, why, then, the strategy is working. But you're paying more. When the president took office, the price of gasoline here in Nassau County was about $1.86 a gallon. Now, it's $4 a gallon. The price of electricity is up. If the president's energy policies are working, you're going to see the cost of energy come down."
Obama: "Think about what the governor just said. He said when I took office, the price of gasoline was $1.80, $1.86. Why is that? Because the economy was on the verge of collapse, because we were about to go through the worst recession since the Great Depression, as a consequence of some of the same policies that Governor Romney’s now promoting."